ACCU Completes Compliance Picture

WASHINGTON -The Association of Corporate Credit Unions has filled the slot for its new Compliance Clearinghouse. The ACCU has named Rhonda Whitley, an attorney, as manager of the Compliance Clearinghouse. "We are right now bringing her out to a few corporates to learn the business," said ACCU Executive Director Michael Canning. This is the first time ever that the ACCU, which has a management agreement with CUNA, has had three employees. Canning said it's a vote of confidence from its corporate members that the association is on the right track. Canning envisions the Compliance Clearinghouse as a resource corporates can use to better comply with ever burdensome regulations. Canning thinks regulatory compliance is one of the most difficult and expensive challenges facing the credit union industry. "There's only one way we can face it, by everyone coming together. These costs can overwhelm the industry."